Different Clients...Different Needs...Different Solutions.
Click on each for more detail:
We supplement the business in the areas outside your expertise. Together, you can build on your strengths - knowing that the infrastructure is in place to support you.We coach clients one-on-one to develop the skills needed to keep accurate records yourself, and provide ongoing support
Educating our Clients
McCann & Roque Chartered Accountants has run several seminars over the years - designed for our clients - to help them run a better business.
Topics have included:
- All About the Numbers
- Incorporating Professionals
- Keeping Out of Trouble with CRA
- It's All About Businesses Getting Results (series of 11 seminars)
- Retirement Planning
- Individual Pension Plans
- Introduction to HST
- New Accounting and Auditing Standards and Changing Tax Rules - and How They Apply to You (various presentations)
With architects and engineers as clients of the firm since its inception over 20 years ago, we have accumulated a wealth of knowledge and experience. Alongside our clients, we’ve just about “done it all”. From sole practitioners to partnerships to professional corporations – we’ve walked with our clients every step of the way.
Examples of projects we’ve undertaken for our clients:
- Assisted an architect to set up a new practice with a partner, including: meeting the regulatory requirements, designing an accounting system to permit project-by-project tracking; and serving the role of a Board of Directors in providing input to assist the owners in making major decisions
- Restructured a partnership to permit family members to become shareholders. The project was undertaken to take full advantage of the small business tax rates, while minimizing the current business and personal tax burden, and begin building wealth for retirement
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Before joining McCann & Roque Chartered Accountants, Allan Roque worked for both a general contractor and a property management company. Skills developed on those jobs included installation and repair of large scale heating and air conditioning systems, and build outs for interior and exterior commercial and residential renovations.
When the firm moved offices in 2010, these skills were put to good use working with our contractor (also a client) and his trades. It was an interesting exercise to see the project from both the client's side of the desk as well as from the contractor's side.
Because we support this client's bookkeeper throughout the year, and receive a copy of the accounting data file to prepare the year-end, we're able to assist them with questions on estimating; job costing; TMI calculations for tenants, and various other matters. We're there at the end of the phone line, as needed.
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Physicians & Surgeons
We have a lot of fun working with our physician and surgeon clients. From the family physician, to the general surgeon to the orthopedic surgeon to the anesthetist, we’ve worked with a wide variety of medical practitioners.
Medical practitioners face many challenges, including:
- Debt reduction in the early years
- Choosing how to practice – solo or with others; whether to incorporate
- Financing a new medical practice or buy-in to an existing practice
- Setting up and running a profitable practice
- Finding and keeping qualified people
- Minimizing the tax burden and beginning to build wealth; reviewing investment alternatives
- Adjusting to changing government regulations and funding formulas
- Retirement planning
- Succession planning (or who is interested in buying an Ontario medical practice?)
After spending so many years in school, most physicians and surgeons graduate with their “Dr.” and a huge pile of debt. Eliminating that debt as quickly as practical is a high priority. This is usually replaced by a mortgage and the costs of raising a family.
In addition to the issues faced by all health care practitioners these days, our psychologists face a few additional challenges:
- The changing face of the insurance industry
- Issues around when to charge HST
We have had the pleasure of working with several lawyers over the years, mostly sole practitioners or partners in smaller firms. Lawyers face many of the same challenges that we accountants face, including:
- Meeting the regulatory requirements in setting up your practice
- The decision to practice solo or partner/ incorporate with others
- Funding to start and later grow your practice
- Designing accounting systems to track trust accounts and monitor profitability
- Balancing the need for constant, ongoing professional development with meeting client needs
- Tax planning to minimize what we “share” with the Canada Revenue Agency (CRA)
- Succession planning – deciding what you want to do with your practice when it’s time to retire and executing the plan
- Retirement planning – ensuring you have a large enough nest egg to enjoy your retirement and do the things you never had time to do when you were working
A law practice is very similar to an accounting practice. In fact, we often share some of the same clients. Why not talk to us, and find out why your colleagues have chosen our firm to look after their financial and tax needs!
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Marcia McCann has been working with visual artists for many years, including serving as Treasurer for the Oakville Arts Council for 6 years.
Marcia has have made several presentations for both local Arts Councils and CARFAC Ontario (Canadian Artists Representation) on topics such as "Running an Artist Business"; "Income Taxes: A necessary Evil" and "HST for Small Business: Getting It Right!". She was also one of the contributing authors on the 2005 edition of the CARFAC book "Information for Artists: A Practical Guide for Visual Artists". Her most recent presentation was on March 19th to discuss issues that mature and established artists face for CARFAC.
Why not get an accountant on your side who really understands your business!